Boosalis Properties and The IDI Group Cos. have received approvals from the Prince William County Board of Supervisors to proceed with their 19.2-acre mixed-use development in Woodbridge, Va.
The joint venture expects to break ground on Riverside Station in the middle of 2023. The project consists of developing 970 housing units and at least 130,000 square feet of commercial space on an assemblage of two parcels. The parcels include a 6-acre site that was formerly a car dealership and the 13-acre site for Station Plaza Shopping Center. Located at the intersection of U.S. routes 1 and 123 in North Woodbridge, Riverside Station will be directly across the street from Virginia Railway Express’ Woodbridge Station.
George Boosalis, principal broker at Boosalis Properties, told Multi-Housing News that the units will mostly be one-bedrooms, but the property will include some two- and three-bed units. Eight percent of the units will be designated as affordable and reserved for those making between 60 percent and 100 percent of the area median income.
The project also includes 1 mile of pedestrian connections and shared-use paths throughout the property, along with urban parks and open space areas. The joint venture is planning to build a pedestrian bridge across U.S. Route 1 that will better connect Riverside Station to the Woodbridge Station and other neighborhoods east of the highway.
Additional phases on the horizon
Riverside Station is expected to have three phases, and its first phase will include 330 units and 40,000 square feet of commercial space. The joint venture will start construction in mid-2023, with an expected delivery in 2025. Boosalis said the second phase has an expected start in 2025, while the third phase is slated for a 2027 start. The second and third phases will each total approximately 320 units and roughly 40,000 square feet of retail space.
Boosalis also told MHN that there are currently two adjacent parcels totaling 19 acres next to the development that are in discussion for two additional phases. While Boosalis Properties’ portfolio is mostly made up of office and retail properties in the area, The IDI Group Cos. has been building in Woodbridge since its Rivergate community that had its first of two buildings completed in January 2018.